Euro Data Kick-Start the Week

We begin this week with Euro’s Services Sentiment, Industrial Confidence and Consumer Confidence data. The data should not be a hindrance for Euro’s growth as it may struggle with the politics of Italy which will bring in more trouble for the nation. This would make it difficult for the European banks to receive funds. Italy’s GDP moved up from 123% to 133%.

If the government bonds end up crashing, several national banks and Italian banks which hold the bonds would also crash thereby causing a huge financial loss to the country. The Inflation Report Hearings for pound traders gives an insight with the last week’s U.K. BBA mortgage approvals: 44.7K versus the expected rate at 42.6K. The previous data was at 42.23K and encouraged pound’s growth. However, this month, the pound is looking back to recover.

The U.S data for Durable Goods Orders should start circulating the dollar as they look to regain control with the data showing a strong and a positive sign with 1.9% versus the previous negative rate of –0.5%. Due to this, the U.S Home Sales might show a decline. The Dallas Federal Reserve’s Manufacturing Business Index has consistently grown since August 2016 and continues to grow steadily. The data posted out by the Business Index is 22.1%, which is by far the highest and assists the growth of the dollar. Tuesday’s speech from Donald Trump is one to look out for as the President promised that he would announce ‘something phenomenal in terms of tax’ and we believe that he will use this opportunity to discuss policies for the economic growth of the nation.